Blackbaud, Inc. (NASDAQ:BLKB) – Equities research analysts at William Blair raised their FY2018 earnings per share estimates for Blackbaud in a note issued to investors on Tuesday, October 30th. William Blair analyst J. Furby now expects that the technology company will post earnings per share of $1.69 for the year, up from their previous estimate of $1.62. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for Blackbaud’s Q4 2018 earnings at $0.35 EPS.
Other equities analysts have also recently issued reports about the company. DA Davidson reduced their price target on Blackbaud from $105.00 to $82.00 and set a “hold” rating for the company in a research report on Tuesday, October 9th. ValuEngine cut Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Needham & Company LLC assumed coverage on Blackbaud in a research report on Wednesday, July 18th. They set a “hold” rating for the company. BidaskClub upgraded Blackbaud from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 21st. Finally, Benchmark cut Blackbaud from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating and eleven have given a hold rating to the stock. Blackbaud has a consensus rating of “Hold” and an average target price of $94.71.
Blackbaud (NASDAQ:BLKB) last announced its quarterly earnings results on Monday, October 29th. The technology company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The company had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.50 million. Blackbaud had a return on equity of 25.79% and a net margin of 7.84%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share.
A number of institutional investors have recently bought and sold shares of the stock. Smithfield Trust Co. lifted its stake in Blackbaud by 2,492.5% during the second quarter. Smithfield Trust Co. now owns 1,037 shares of the technology company’s stock worth $106,000 after purchasing an additional 997 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Blackbaud during the second quarter worth about $129,000. Global X Management Co LLC bought a new stake in Blackbaud during the second quarter worth about $163,000. First Republic Investment Management Inc. bought a new stake in Blackbaud during the second quarter worth about $261,000. Finally, ING Groep NV bought a new stake in Blackbaud during the second quarter worth about $270,000.
In related news, Director Andrew M. Leitch sold 3,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $95.72, for a total transaction of $287,160.00. Following the completion of the transaction, the director now directly owns 24,457 shares in the company, valued at $2,341,024.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director George H. Ellis sold 2,652 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $96.16, for a total value of $255,016.32. Following the transaction, the director now owns 7,730 shares of the company’s stock, valued at $743,316.80. The disclosure for this sale can be found here. 1.55% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 27th. Blackbaud’s payout ratio is 30.19%.
Blackbaud Company Profile
Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.
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